Mike Kozak of Cormark, numerical dumbass

One of the main qualifications of an equities analyst is being able know your ass from your elbow when it comes to numbers and stuff. Unfortunately Mike Kozak, analyst at Cormark, fails on this score in a rather epic manner.

Last Friday, Kozak published an analysis on Dynasty Metals (DMM.to) that was so full of elementary mistakes it was laughable. Here's a little chart that has just a few of them (not kidding, just a few of them):

Dynasty Metals & crap analyses, Cormark Edition
Mike Kozak vs Bleedin' Reality, November 13th 2009
	Kozak	Reality	Cormark result
52wk high	$11.18	$6.20	EpicFail
52wk low	$3.53	$1.09	EpicFail
Shares out	36.4m	37.64m	EpicFail
cash at bank	$18.8m	$10.75m*	EpicFail
mkt cap	$205.4m	$212.7m	EpicFail
source: Cormark report and bleedin' reality, mate

* approx, but way way closer than Kozak, I promise

Add to this things like assuming Ecuador's corp tax rate is 30% (it's 25%), overestimating insider holdings at DMM by what looks like a million shares, getting the gold resource number wrong by nearly half a million ounces....there's a whole bunch of other stuff. Maybe funniest of the lot was that, after getting so many asset parameters way way bad he decided to value DMM.to using a Net Asset Value calculation!

It's super-early to give out this week's coveted award, but surely nobody can beat this one. Therefore, Mike Kozak of Cormark, you win this week's coveted award. Your report on Dynasty Metals was the worst piece of rushed and sloppy analysis we've seen this year. Enjoy, dumbass: